Quote In May, U. At the same time, hopes have receded of a wholly Indian pharmaceutical major emerging as a global player. According to Wharton faculty and industry experts, changing global business models and the resources needed to develop blockbuster drugs are propelling Indian companies to join forces with multinationals through strategic alliances or as targets for acquisitions. Based in Abbott Park, Ill. The Abbott-Piramal combine reports to him, but he notes it will be run as a standalone business unit after the merger takes effect later this year.
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The Indian drug maker, which itself has made 15 acquisitions since , insists it will remain in the industry and invest in the remaining business. Abbott will add branded generic drugs from the Piramal portfolio, including Phensedyl, one of the top two pharma brands in the country. Ajay Piramal, however, reiterated that he was not exiting the business. For MNCs, emerging markets, with their cheaper generic medicines, are turning out to be the new battleground, given that most are witnessing stalled sales in Western markets.
The deal will complement our market-leading proprietary pharmaceutical offerings and pipeline in developed markets. In terms of total turnover would be among the top 10, with a turnover of around Rs 3, crore.
The deal is also being hailed as a precursor to better times for domestic drug compaies looking to bail out. Piramal has always been the all-conquering Indian hero and one would have thought, should have been the last man standing instead of capitulating so easily. This one is a huge positive for Piramal, but a major negative for Indian pharma.
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ABBOTT ACQUISITION OF PIRAMAL HEALTHCARE SOLUTIONS PDF
Arashakar Log in Keep me signed in. Abbott acquisition of St. The stock markets reacted negatively to the deal. BOis booming as governments battle rising healthcare costs. But that is also changing, she says. Abbott will pay Rs per share. Reliance to buy majority stake in renewable energy services firm Kanoda.
Abbott buys Piramal's Healthcare Solutions
Abbott to Acquire Piramal's Healthcare Solutions Business
A ‘Bigger Foothold’: What Does the Abbott-Piramal Deal Mean for Indian Pharma?